2004 - Hiap Teck Venture Berhad

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21. PROFIT/(LOSS) FROM OPERATIONS Profit/(loss) from operations is stated after charging/(crediting): GROUP COMPANY 2004 2003 2004 2003 RM'000 RM'000 RM'000 RM'000 Staff costs (Note 22) 20,364 12,896 3,985 - Auditors' remuneration: Statutory audits - current year 85 124 15 4 - prior year's (6) (2) - - Other services - current year 5 24 5 15 - prior year's 1 (2) 1 - Rent expense 71 4,154 - - Depreciation of property, plant and equipment (Note 3) 13,362 10,617 778 778 Amortisation of goodwill 52 52 - - Provision for doubtful debts 64 6,594 - - Doubtful debts recovered (4,145) - - - Doubtful debts written back - (75) - - Bad debts recovered (2) (21) - - Non-executive directors' remuneration (Note 23) 218 60 189 24 Loss on disposal of investment 537 - - - Provision for impairment in value of investments 531 - - - Gain on disposal of plant and equipment (1,200) (3,987) - - Rental income (180) (312) - - Net foreign exchange losses/(gains): Realised (910) (427) - - Unrealised 1 (110) - - Revaluation deficit on revaluation of leasehold land - (354) - - Plant and equipment written off 183 - - - Other payable written off (70) - - - Fixed deposits interest income (310) (199) (164) (41) Net overdue interest income written off 81 119 - - Bad debts written off 148 - - - 22. STAFF COSTS GROUP COMPANY 2004 2003 2004 2003 RM'000 RM'000 RM'000 RM'000 Wages and salaries 13,664 10,709 1,256 - Bonus 4,149 340 1,700 - Social security costs 124 111 1 - Pension costs - defined contribution plans 1,601 1,033 229 - Other staff related expenses 826 703 799 - 20,364 12,896 3,985 - Included in staff costs of the Group and of the Company are executive directors' remuneration amounting to RM5,331,000 (2003: RM1,620,000) and RM3,985,000 (2003: RM Nil) respectively as further disclosed in Note 23. HIAP TECK VENTURE BERHAD 45
23. DIRECTORS' REMUNERATION Directors of the Company GROUP COMPANY 2004 2003 2004 2003 RM'000 RM'000 RM'000 RM'000 Executive: Salaries and other emoluments 1,464 701 1,256 - Bonus 1,695 89 1,700 - Social security costs 1 1 1 - Pension costs - defined contribution plans 242 65 229 - Annual leave compensation 799 - 799 - Benefits-in-kind 51 45 - - 4,252 901 3,985 - Non-Executive: Fees 189 60 189 24 Directors of Subsidiaries 4,441 961 4,174 24 Executive: Salaries and other emoluments 716 488 - - Fees - 7 - - Bonus 287 175 - - Social security costs 2 2 - - Pension cost - defined contribution plan 117 92 - - Annual leave compensation 8 - - - Benefits-in-kind 49 40 - - 1,179 804 - - Non-Executive: Fees 29 - - - 1,208 804 - Total 5,649 1,765 4,174 24 Analysis excluding benefits-in-kind: Total executive directors' remuneration excluding benefits-in-kind (Note 22) 5,331 1,620 3,985 - Total non-executive directors' remuneration (Note 21) 218 60 189 24 Total directors' remuneration excluding benefits-in-kind 5,549 1,680 4,174 24 The number of directors of the Company whose total remuneration during the financial year fell within the following bands is analysed below: Number of Directors 2004 2003 Executive directors: RM100,001 - RM150,000 - 3 RM200,001 - RM250,000 3 - RM300,001 - RM350,000 - 1 RM3,450,001 - RM3,500,000 1 - Non-Executive directors: RM Nil - RM50,000 7 4 46 HIAP TECK VENTURE BERHAD
Page 1 and 2: 2004 annual report C R E A T I N G
Page 3 and 4: CORPORATE STRUCTURE 100% 100% 100%
Page 5 and 6: PROFILE OF THE BOARD OF DIRECTORS T
Page 7 and 8: CHAIRMAN’S STATEMENT On behalf of
Page 9 and 10: FINANCIAL HIGHLIGHTS Revenue (RM’
Page 11 and 12: The Company’s Articles of Associa
Page 13 and 14: STATEMENT ON INTERNAL CONTROL The B
Page 15 and 16: AUDIT COMMITTEE REPORT The Audit Co
Page 17 and 18: 6. Audit Committee Report The Commi
Page 19 and 20: Directors’ Report The directors h
Page 21 and 22: ISSUE OF SHARES AND INITIAL PUBLIC
Page 23 and 24: Statement by Directors Pursuant to
Page 25 and 26: Balance Sheets as at 31 July 2004 N
Page 27 and 28: Consolidated Statement of Changes i
Page 29 and 30: Cash Flow Statements for the year e
Page 31 and 32: Notes to the Financial Statements 3
Page 33 and 34: 2. SIGNIFICANT ACCOUNTING POLICIES
Page 35 and 36: 2. SIGNIFICANT ACCOUNTING POLICIES
Page 37 and 38: 3. PROPERTY, PLANT AND EQUIPMENT (C
Page 39 and 40: 5. OTHER INVESTMENTS GROUP COMPANY
Page 41 and 42: 11. CASH AND CASH EQUIVALENTS GROUP
Page 43 and 44: 14. TRADE PAYABLES The normal trade
Page 45: 18. DEFERRED TAX (CONT’D) Deferre
Page 49 and 50: 25. TAXATION (CONT’D) Company 200
Page 51 and 52: 30. SIGNIFICANT RELATED PARTY TRANS
Page 53 and 54: 33. SIGNIFICANT EVENTS In conjuncti
Page 55 and 56: 34. SEGMENTAL INFORMATION (CONT’D
Page 57 and 58: Analysis of Shareholdings as at 15
Page 59 and 60: DIRECTORS’ SHAREHOLDING as at 15
Page 61 and 62: financial year, amongst others, on
Page 63 and 64: Statement Accompanying Notice of An
Page 65 and 66: Company Secretaries HIAP TECK VENTU

2004 - Hiap Teck Venture Berhad

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